TEVA PHARMACEUTICAL INDUSTRIES LTD (TEVA)

Teva is a global pharmaceutical company that aims to help patients access affordable medicines and benefit from innovations that improve their health. Its stated mission is to be a global leader in generics, innovative medicines and biopharmaceuticals. Teva was incorporated in Israel in 1944 as the successor to several Israeli corporations, the oldest of which dates to 1901. It cites its strengths as world-leading generic medicines expertise and portfolio, a focused innovative medicines portfolio, and global infrastructure and scale.

Teva operates through three segments: North America (the United States and Canada), Europe (the European Union, the United Kingdom and certain other European countries) and International Markets (more than 35 other countries). Each segment manages the full portfolio in its region, covering generics (including biosimilars and over-the-counter products) and innovative medicines. Its other activities include selling active pharmaceutical ingredients (API) to third parties, contract manufacturing, and an out-licensing platform through its affiliate Medis. In the United States it markets about 500 generic prescription products in oral solid, injectable, inhaled, transdermal, liquid, ointment and cream forms. Its innovative medicines focus on central nervous system (AJOVY for migraine, AUSTEDO for Huntington's chorea and tardive dyskinesia, COPAXONE for multiple sclerosis), respiratory (QVAR, ProAir Digihaler, CINQAIR) and oncology (including BENDEKA, licensed from Eagle). Its biosimilars include Truxima, Herzuma and Ranivisio. Its OTC portfolio in Europe includes SUDOCREM. Anda is its U.S. distribution business for third-party generic, innovative and OTC products.

Teva sells in the United States mainly to retail drug chains, mail order distributors and wholesalers, while Anda serves independent pharmacies, retail chains, hospitals and physician offices. It describes the U.S. as its most significant market for innovative medicines. It ranks among the top three generic companies in many countries, including the United States and several key European markets, and has a pan-European footprint. Its International Markets segment includes pure generic markets such as Israel, branded generic markets such as Russia and parts of Latin America, and hybrid markets such as Japan. In Japan it operates largely through a venture with Takeda, in which it holds 51%, and it sold most of that venture's generic and operational assets in February 2021. The company offers patient support programs in many countries.

Teva is headquartered in Israel and has a significant presence in the United States, Europe and other markets. It develops, manufactures and sells generics supported by global R&D and by its own API R&D and manufacturing, which give it significant vertical integration. It has restructured its generics business and manufacturing and supply network, closing or divesting a significant number of plants worldwide, and is continuing network consolidation. In pure generic markets, relationships with pharmacy chains, distributors and insurers matter most, whereas branded generic markets require a promotional sales force. Most competitors in Europe focus on only a few markets or business lines.